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Banking Quiz for NABARD Grade-A Exam 2018 | 22nd March 2018

With the increased competition in the field of banking examinations, it has now become very important to cover up all the sections efficiently. One subject that can help you bagging graceful marks in the minimum time in these examinations is Banking Awareness. Banking Awareness Quiz not only helps you deal with the General Awareness Section of Banking Exams but also, the Personal Interview round of Banking Recruitment.

Q1. The Reserve Bank of India has imposed a monetary penalty of _____________ on State Bank of India for non-compliance of its directions on detection and impounding of counterfeit notes.

(a) Rs 40 lakh

(b) Rs 20 lakh

(c) Rs 30 lakh

(d) Rs 10 lakh

(e) Rs 60 lakh

S1. Ans.(a)Sol. The Reserve Bank of India has imposed a monetary penalty of Rs 40 lakh on State Bank of India for non-compliance of its directions on detection and impounding of counterfeit notes. An RBI notification issued from Mumbai informs that the action is based on deficiencies in regulatory compliance found at two of the bank’s currency chests.

Q2. The country’s largest lender, SBI has slashed charges for non-maintenance of AMB in savings accounts by nearly 75 percent. AMB stands for-

(a) Average Management Balance

(b) Average Monthly Bill

(c) Average Monthly Basic

(d) Average Monthly Balance

(e) Annually Monthly Balance

S2. Ans.(d)Sol. The country’s largest lender, SBI has slashed charges for non-maintenance of Average Monthly Balance (AMB) in savings accounts by nearly 75 percent. The revised charges will be effective from April 01, 2018 and will benefit over 25 crore customers.

Q3. Which Bank has launched instant overdraft ‘InstaOD’ facility for MSME (Micro, Small and Medium Enterprises) customers in a completely online and paperless manner?

(a) Punjab National Bank

(b) ICICI Bank

(c) State Bank of India

(d) HDFC Bank

(e) Bank of Baroda

S3. Ans.(b)Sol. ICICI Bank has launched instant overdraft ‘InstaOD’ facility for MSME (Micro, Small and Medium Enterprises) customers in a completely online and paperless manner. Customers can get overdraft facility up to Rs 15 lakh for a year anytime, anywhere using the bank’s Internet and mobile banking app.

Q4. Capital markets regulator SEBI raised the exposure limit under exchange-traded currency derivatives trading for residents and FPIs to USD 100 million across all currency pairs involving the Indian rupee. What is the meaning of "P" in FPIs?

Q5. Name the private sector bank, which had opened a representative office in Sharjah (UAE), to better serve its customers in the emirate and to expand its retail offerings to customers in the neighboring northern emirates recently.

(a) Kotak Mahindra Bank

(b) ICICI Bank

(c) Axis Bank

(d) HDFC Bank

(e) South Indian Bank

S5. Ans.(c)Sol. Axis Bank had opened a representative office in Sharjah, to better serve its customers in the emirate and to expand its retail offerings to customers in the neighboring northern emirates. The representative office is the third such Axis Bank office in the UAE after Dubai and Abu Dhabi.

Q6. Muthoot Finance, the flagship company of Muthoot Group has tied up with Global IME Bank to expand its money remittance services between Indo Nepal Corridor. Muthoot Finance based in-

(a) Telangana

(b) Andhra Pradesh

(c) Karnataka

(d) Tamil Nadu

(e) Kerala

S6. Ans.(e)Sol. Muthoot Finance, the flagship company of Muthoot Group has tied up with Global IME Bank to expand its money remittance services between Indo Nepal Corridor. Muthoot Finance is the only NBFC to extend the money transfer services from India to Nepal. Muthoot Finance based in Kochi, Kerala.

Q7. India's largest lender SBI and India IMGC has signed a pact to offer mortgage guarantee scheme for prospective non-salaried and self-employed home loan customers. What is the meaning of "M" in IMGC?

Q8. General Insurance Corporation has decided to start its operations at Lloyd’s office in ____________ from April 2018.

(a) Paris

(b) New York

(c) Budapest

(d) Manhattan

(e) London

S8. Ans.(e)Sol. General Insurance Corporation is going to start operations at the Lloyd’s London office in April 2018 thereby increasing its share of international business. This will also facilitate Indian becoming a regional reinsurance center.

Q9. The World Bank has projected India's GDP growth at __________ for 2018-19 and accelerates further to _____________ in 2019-20.

(a) 7.5% and 7.7%

(b) 7.3% and 7.5%

(c) 7.7% and 7.9%

(d) 7.1% and 7.3%

(e) 7.2% and 7.4%

S9. Ans.(b)Sol. The World Bank has projected India's GDP growth at 7.3% for 2018-19 and accelerates further to 7.5% in 2019-20. The World Bank's biannual publication, India Development Update - India's Growth Story, expects the economy to clock a growth rate of 6.7% in the current fiscal ending March 31.

Q10. The Cabinet Committee on Economic Affairs has approved the proposal of Department of Fertilizers to continue Urea Subsidy Scheme upto 2019-20 at a total estimated cost of ______________ (approx).

(a) Rs. 1,65,000 crore

(b) Rs. 1,45,000 crore

(c) Rs. 1,25,000 crore

(d) Rs. 1,15,000 crore

(e) Rs. 1,00,000 crore

S10. Ans.(a)Sol. The Cabinet Committee on Economic Affairs has approved the proposal of Department of Fertilizers to continue Urea Subsidy Scheme upto 2019-20 at a total estimated cost of Rs. 1,64,935 crore and for disbursement of fertilizer subsidy. This decision implies that there will be no increase in the price of urea, till 2020.

Q11. India’s exports grew by ____________ in February-2018 to 25.8 billion dollars as compared with same period in February-2017.

(a) 5.5%

(b) 4.5%

(c) 3.5%

(d) 2.5%

(e) 6.5%

S11. Ans.(b)Sol. India’s exports grew by 4.5% in February-2018 to 25.8 billion dollars. It was 24.7 billion dollar during the same period in February-2017. This announcement was made by the Commerce Secretary Rita Teaotia.

Q12. India and the Asian Development Bank (ADB) signed a loan agreement of amount _______________ for completion of works for double-tracking and electrification of railways tracks.

(a) $180 million

(b) $120 million

(c) $150 2illion

(d) $320 million

(e) $220 million

S12. Ans.(b)Sol. India and the Asian Development Bank (ADB) signed a $120 million loan agreement for completion of works for double-tracking and electrification of railways tracks along high-density corridors to improve the operational efficiency of Indian railways.

Q13. India has been ranked at 78th, lower than its emerging market peers like Brazil and China, among 114 countries on the World Economic Forum’s (WEF) energy transition index. The list is topped by which of the following country?

(a) Finland

(b) Denmark

(c) Sweden

(d) Norway

(e) Switzerland

S13. Ans.(c)Sol. India has been ranked at 78th, lower than its emerging market peers like Brazil and China, among 114 countries on the World Economic Forum’s (WEF) energy transition index. The list was topped by Sweden. The report titled 'Fostering Effective Energy Transition' ranks countries on how well they are able to balance energy security and access to environmental sustainability and affordability.

Q14. The Payment of Gratuity (Amendment) Bill, 2017 aims at increasing the upper ceiling of the gratuity from the present 10 lakh rupees to _______________ for employees in the private sector and in Public Sector Undertakings at par with Central Government employees.

(a) 20 lakh rupees

(b) 25 lakh rupees

(c) 12 lakh rupees

(d) 15 lakh rupees

(e) 50 lakh rupees

S14. Ans.(a)Sol. Lok Sabha has passed gratuity amendment bill. The Payment of Gratuity (Amendment) Bill, 2017 aims at increasing the upper ceiling of the gratuity from the present 10 lakh rupees to 20 lakh rupees for employees in the private sector and in Public Sector Undertakings at par with Central Government employees.

Q15. NITI Aayog released comprehensive roadmaps and detailed timelines for its initiative 'SATH-E’ project. What does 'H' stands for in SATH?